Kassym-Jomart Tokayev Took Part in the Kazakh-Korean Round Table
As part of the State visit of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev to the Republic of Korea, an investment roundtable was held with the participation of the largest Korean companies under the chairmanship of the Head of State.
In his speech, the President of Kazakhstan informed the forum participants about the main results of interstate negotiations with President Moon Jae-in, noted that South Korea is a very important strategic partner of Kazakhstan.
"The volume of direct investments from your country over the past 15 years has amounted to more than $ 6 billion. More than 550 enterprises with Korean capital are successfully operating in Kazakhstan, including leading corporations such as Samsung, Hyundai, Lotte, Posco, KNOC and others. With their participation, 24 major projects worth more than $ 2.5 billion have already been implemented. A landmark project is the construction and operation of the Great Almaty Ring Road (BAKAD) with the participation of the Korean company SK Engineering & Construction", - said Kassym-Jomart Tokayev.
The Head of State spoke about plans to implement 16 promising investment projects worth more than $ 1.5 billion in such areas as the automotive industry, housing construction, metallurgy and agriculture.
The President focused on the priority of forming an economy based on innovations and new technologies.
"We are strategically interested in high – tech manufacturing facilities in the manufacturing industry, as well as Industry 4.0 technologies. South Korea is a recognized world leader in the field of digitalization of the economy and a pioneer in the field of 5G networks", - said Kassym-Jomart Tokayev.
At the same time, the Head of State noted the presence of modern infrastructure in Kazakhstan for the development of innovative technologies.
"We are interested in creating joint productions of computer equipment, network equipment, data processing centers. Kazakhstan is also working on the deployment of a 5G network. The first tests were conducted in large cities. I invite Korean companies to take part in the implementation of 5G projects in Kazakhstan", - said the President.
Kassym-Jomart Tokayev also called for using significant opportunities in the field of subsurface use, pointing out that only 25% of the territory has been studied geologically in Kazakhstan.
In this context, the Head of State informed about the availability of five ready-made projects for the extraction of precious and non-ferrous metals and invited Korean companies to partner in the development of the subsoil of Kazakhstan.
The President of Kazakhstan added that during the talks with the South Korean leader, he made a proposal to jointly conduct research on natural resources on the territory of our country, according to the results of which the priority right to extract resources can be granted to Korean companies.
The priority of the development of alternative and renewable energy in Kazakhstan was also noted in the speech. The President invited Korean companies to consider investment opportunities in such areas as wind and solar energy.
In addition, the President invited the forum participants to jointly produce nuclear fuel in Kazakhstan using Korean technologies, as well as to implement projects in the field of energy waste disposal.
Highly appreciating the cooperation with South Korea in the field of mechanical engineering, Kassym-Jomart Tokayev stressed that thanks to the participation of large Korean companies, the automotive industry has become one of the catalysts for Kazakhstan's economic growth. Based on this, the President declared his readiness to expand the model line and deepen the localization of production.
The Head of State spoke about the interest in localizing the production of equipment and spare parts for the oil and gas industry together with Korean companies, as well as in deep processing of agricultural products based on new technologies.
In addition, Kassym-Jomart Tokayev informed about the potential of cargo transit from Asia to Europe through Kazakhstan, as well as about opportunities for diversifying Korean exports, including to the market of the Eurasian Economic Union.
Speaking about the formation of an institutional environment for investors, the President called for using the opportunities of the KAZAKH INVEST national company, special economic and industrial zones, as well as the Astana International Financial Center.
Concluding his speech, the Head of State called the event an effective practical step in deepening trade and economic cooperation between the two countries.
Kassym-Jomart Tokayev announced his decision to create a special working group headed by Deputy Prime Minister Roman Sklyar for specific work with Korean entrepreneurs. At the same time, as the President stressed, in terms of the implementation of large institutional, infrastructure projects, monitoring will be carried out by him personally.
The moderator of the round table was Christopher Koo, Chairman of the Korean International Trade Association KITA. The speakers were the Chairman of "NWF "Samruk-Kazyna" JSC, the Minister of Trade, Industry and Energy of the Republic of Korea, as well as the heads of Korean companies Samsung Electronics, Doosan Heavy Industries&Construction, Hyundai Engineering & Construction, Dongil Construction, Lotte Confectionery, BC Card, Seegene Medical Foundation, Korea Health Industry Development Institute (KHIDI), Dongkwang Trading Corporation and Kolon World Investment.
Representatives of the Presidential Administration, members of the Government, heads of the AIFC, companies "KazTransGas", "KAZAKH INVEST", "Kazakhtelecom" took part in the meeting from the Kazakh side, Kaspi.kz and others.
At the end of the roundtable with South Korean business representatives, the Head of State held meetings with Samsung Electronics President In Yong Lee and Doosan Heavy Industries & Construction President Yeonin Jung.
In addition, during the visit of the Head of State, the leadership of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan and KAZAKH INVEST held a number of bilateral meetings with such companies as KAKO NFM (production of cathode batteries), Hyosung Corporation (processing of nickel-cobalt ores), SAC and Hyundai Rotem (production of ferroalloys), KOLON Corporation (digitalization projects), TKI International (production of copper cathode), Seegene Medical Foundation (development of biomolecular laboratories), Ofe (production of elevators), Jintex Global (light industry), etc.
As a result of the roundtable, 34 agreements were signed for a total of $ 1.7 billion, including 21 commercial documents and 13 non-commercial ones. The agreements reached on the joint implementation of investment projects provide for the transfer of Korean technologies based on high efficiency and environmental friendliness of production facilities.
It should be noted that the Kazakh-Korean Roundtable was organized by the Ministry of Foreign Affairs of the Republic of Kazakhstan and "NC "KAZAKH INVEST" JSC, together with "National Welfare Fund "Samruk-Kazyna" JSC and the Korean International Trade Association (KITA).
Source: Official website of the President of the Republic of Kazakhstan
